for the second time its plans to go public via a special-purpose acquisition company , according to a statement on Feb. 7.
The company announced its plans to go public in January 2022 through a merger with the SPAC company Arisz Acquisition Corp, anticipating to be publicly listed in the third quarter of that year and a pro forma enterprise value of nearly $1.5 billion. The new decision will postpone the public listing to May, helping the companies to consummate the business combination.
"The Extension provides Arisz with additional time to complete its proposed business combination with Finfront Holding Company ," said the statement. The extension is the second of two three-month extensions permitted under Arisz's governing documents. In other words, unless its shareholders approve a revision in its governing documents, the crypto cloud company is unable to delay the merger again. Alongside the new deadline, the move will provide an additional $690,000 to Arisz operations.BitFuFu was founded with early investment from crypto hardware firm Bitmain and its core founding team members.
Market conditions and the crypto winter have impacted many crypto firm's public listing plans. On Dec. 5, the company issuer of USD Coin Circle
The company announced its plans to go public in January 2022 through a merger with the SPAC company Arisz Acquisition Corp, anticipating to be publicly listed in the third quarter of that year and a pro forma enterprise value of nearly $1.5 billion.
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